SOURCE: NIS Holdings Corp

February 01, 2011 18:18 ET

NIS Holdings Announces Agreement to Acquire Alpha Dynamic Group Inc.

NEW YORK, NY--(Marketwire - February 1, 2011) - NIS Holdings (OTCQB: NISC) (PINKSHEETS: NISC) announced today that it has entered into an agreement to acquire Alpha Dynamic Group Inc., a cutting edge technology company that has created an unparalleled real-time online transaction processing platform. This technology will give NIS Holdings the ability to finally realize its business plan. NIS Holdings expects the transaction to close by February 4th, 2011.

This latest move follows NIS Holdings' nine month long search for a company with the technology to push its business plan. The plan calls for a single core transaction engine capable of large transaction volume per second. The short list included three companies, of which Alpha Dynamic Group Inc. finally prevailed.

Alpha dynamic Group Inc. has been working on this project since 2008, the company was officially incorporated in December 2010 following the completion of the project.

"Consumers are demanding lower prices in this recession, they are seeking ways to reduce their expenditure while simultaneously trying to keep intact, or increase, their buying power. At the same time many retailers have seen their sales drop and are in need of help in retaining their customers, as well as their customers' expenditure," said Vassiliki Anagnostou, Director and Secretary of NIS Holdings.

"Following the acquisition of Alpha Dynamic Group Inc., NIS Holdings will finally be in the position to implement its business plan and help address the issues facing both consumers and retailers," added Chris Kiltsikis, President and CEO of NIS Holdings.

"In the coming weeks, NIS Holdings will be unveiling its plans for the coming years. This is an exciting time for us, as all our hard work is on the brink of realization. Once the Acquisition is complete we will be changing the board of directors of Alpha Dynamic Group Inc. and working very closely with the creative teams to implement our vision," concluded Vassiliki Anagnostou.

This document was produced by and the opinions expressed are those of NIS Holdings Corp. as of the date of writing and are subject to change without obligation to update. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of NIS Holdings Corp. to any person to buy or sell any security. Any reference to past performance is not a guide to future performance. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but NIS Holdings Corp. does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.

This release may contain forward-looking statements, including, without limitation, statements containing the words "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will," "could," "stands to," and "continues," as well as similar expressions. Such forward-looking statements may involve known and unknown risks, uncertainties and other factors which might cause the actual results, financial condition, performance or achievements of NIS Holdings Corp., or industry results, to be materially different from any historic or future results, financial conditions, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. NIS Holdings Corp. expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, unless required by law or regulation.

Contact Information

  • CONTACT:
    Vassiliki Anagnostou
    212-688-1007